L&T starts inspection of Satyam books
A team from India’s $7 billion engineering behemoth, Larsen & Toubro, which holds 12 per cent stake in Satyam Computer Services, today started inspecting the books of the troubled company. The team is led by YM Deosthalee, whole-time director & chief financial officer of L&T. Satyam’s CEO AS Murty, and his team is understood to have made a presentation.
“The information till now is very sketchy. There’s a sense of the fixed assets and the order book postion. However, the client list has not been shown. The disclosure level is not up to the company’s (L&T’s) expectations,” said a source privy to the development. Yesterday, a team from Tech Mahindra was at the Satyam headquarters. The members of the government-appointed board of Satyam, camping here for the past two days, continued their discussions on the transparency issues raised by the bidders, it was reliably learnt.